Market activity ended on Friday, with the volume of stocks traded rising after trading moderately more shares, with the value jumping 170 percent more than on Thursday, at the close of the Trinidad and Tobago Stock Exchange.
Sixteen securities traded compared to 15 on Thursday, with five rising, three declining and eight ended unchanged. The Composite Index lost 1.99 points to end at 1,412.14, the All T&T Index fell 3.85 points to 2,043.24 and the Cross-Listed Index remained at 103.16.
Overall, $10,781,618 chased 429,853 shares versus 421,946 units for $3,986,805 on Thursday. An average of 26,866 units traded at $673,851 compared to 28,130 shares at $265,787 on Thursday, with trading month to date averaging 43,133 units at $47481,602 versus 42,520 units at $453,575. The average trade for April amounts to 43,127 units at $458,871.
Investor’s Choice bid-offer indicator shows two ended with bids higher than their last selling prices and two stocks with lower offers.
At the end, Ansa McAl declined $1.45, ending at $55.55 after 1,017 shares crossed the market, Clico Investment Fund ended unchanged at $29 with the swapping of 161,105 stock units, First Citizens Group fell 90 cents in closing at $52.10 after exchanging 1,269 stocks. FirstCaribbean International Bank finished at $5.25, with 10,800 units clearing the market, Guardian Media remained at $3.10 after trading 4,420 stocks, Massy Holdings gained 10 cents to $5.10 in switching ownership of 44,518 shares. 
National Enterprises finished at $2 after 5,000 stock units passed through the exchange, National Flour Mills climbed 15 cents to close at $1.80 after exchanging 70 units, One Caribbean Media remained at $4 with 4,700 units crossing the market. Prestige Holdings advanced 38 cents to end at $7.08, with 60 stocks changing hands, Republic Financial Holdings popped 1 cent to $140.01 with an exchange of 322 stock units, Scotiabank ended unchanged at $78 in an exchange of 26,688 shares. Trinidad & Tobago NGL dropped 1 cent in closing at $20.73 in trading 138,717 units, Trinidad Cement remained at $3.50 after exchanging 50 stock units, Unilever Caribbean ended at $16.50 while exchanging 4,833 shares and West Indian Tobacco rose 50 cents to end at $23.50 after trading 26,284 stocks.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
More stocks rose than fell in Trinidad
Main market falters in Friday’s trades
Market activity ended on the Jamaica Stock Exchange Main Market on Friday, with the volume of stocks traded declining 33 percent and the value nosediving 48 percent from Thursday’s activity as rising stocks exceeded those declining by a moderate margin.
The All Jamaican Composite Index lost 1,581.75 points to settle at 449,770.77, the JSE Main Index slipped by 707.68 points to 391,898.55 and the JSE Financial Index lost 0.43 points to settle at 93.72. Trading ended with 58 securities compared to 51 on Thursday, with 25 rising, 22 declining and 11 ending unchanged.
The PE Ratio, a formula for computing appropriate stock values, averages 15. The JSE Main and USD Market PE ratios are computed based on ICInsider.com’s forecasted earnings for companies with financial years ending up to the close of August 2023.
A total of 6,597,987 shares were exchanged for $64,884,016 versus 9,880,109 units at $124,533,581 on Thursday. Trading averages 113,758 units at $1,118,690, compared to 193,728 shares at $2,441,835 on Thursday and month to date, an average of 229,769 units at $4,160,020 compared to 238,407 units at $4,385,460 on the previous trading day. April closed with an average of 532,209 units at $5,709,319.
Wigton Windfarm led trading with 1.89 million shares for 28.6 percent of total volume, followed by QWI Investments with 1.07 million units for 16.2 percent of the day’s trade and Pulse Investments with 885,391 units for 13.4 percent market share.
Investor’s Choice bid-offer indicator shows nine stocks ended with bids higher than their last selling prices and four with lower offers.
At the close, Caribbean Cement dropped $1 to $62 trading 23,340 shares, Carreras declined 64 cents to close at $9.30 after 129,765 units were traded, Eppley lost 85 cents in ending at $49.50 after exchanging 581 stocks. Eppley Caribbean Property Fund popped $4.27 in closing at $47.27 after an exchange of 25 stock units, GraceKennedy fell 81 cents to end at $109.99, with 14,815 units crossing the market, Guardian Holdings gained $6 to end at $530 after exchanging 56 shares. Jamaica Broilers shed $1.40 in closing at $27.10 after 3,829 stock units cleared the market, Jamaica Stock Exchange dropped 53 cents to close at $20 in trading 8,351 stocks, Key Insurance rose 30 cents to close at $4.28 with the swapping of 3,096 stocks. Margaritaville climbed $2 to $23 in switching ownership of 25 units, Mayberry Investments shed 74 cents to close at $10.26 while exchanging 9,664 shares,Mayberry Jamaican Equities fell $1 in ending at $14, with 68,279 stock units crossing the market. MPC Caribbean Clean Energy advanced $1.70 to $110.70 trading five units, NCB Financial lost 85 cents to end at $109.15, with 22,849 shares crossing the exchange, Palace Amusement increased $85 in closing at $1040 with an exchange of one stock unit. 
PanJam Investment rallied $4 to close at $66.50 in exchanging 5,567 stocks, Portland JSX declined $2 in closing at $8.60, with 20,000 stock units changing hands, Scotia Group declined $1.14 in ending at $35.80, with 701,451 stocks crossing the exchange. Seprod gained 49 cents to close at $71.99 in switching ownership of 25,036 shares, Supreme Ventures advanced $1 to end at $30 with an exchange of 43,555 units, Sygnus Credit Investments fell 32 cents in closing at $16.20, with 110,180 shares crossing the market and Wisynco Group rallied $1.48 to $21.48 in an exchange of 95,131 stocks.
In the preference segment, Eppley 7.50% preference share increased 33 cents to close at $8.40, with 101 stock units clearing the market and Jamaica Public Service 9.5% dropped $100 in ending at $3000, with 108 units changing hands.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
More slippage for JSE USD stocks
Trading on Friday ended with the volume of stocks traded on the Jamaica Stock Exchange US dollar market jumping 117 percent with a moderate increase in the value compared to Thursday, resulting in eight securities trading, compared to 11 on Thursday with three rising, one declining and four ending unchanged.
The JSE US Denominated Equities Index slipped 1.05 points to end at 209.96.
The PE Ratio, a measure used in computing appropriate stock values, averages 9.2. The PE ratio uses ICInsider.com earnings forecasts for companies with the financial year ending up to August 2023.
A total of 557,891 shares were traded for US$51,094 versus 257,178 units at US$48,070 on Thursday. Trading averaged 69,736 units at US$6,387, compared to 23,380 shares at US$4,370 on Thursday, with a month to date average of 43,590 shares at US$3,011 versus 42,005 units at US$2,806 on the previous day. April ended with an average of 95,379 units for US$3,929.
Investor’s Choice bid-offer indicator shows no stock ending with a bid higher than the last selling prices and one with a lower offer.
At the close, First Rock Capital USD share rallied 0.04 of a cent to close at 7.94 US cents after exchanging 124 shares, Margaritaville remained at 15 US cents with an exchange of 38 units, Productive Business Solutions finished at 98 US cents while exchanging 1,730 stock units. Proven Investments gained 0.25 of one cent in closing at 26.75 US cents after exchanging 108,122 stocks, Sygnus Credit Investments USD share declined 0.49 of a cent to 12.5 US cents with 147,875 stock units changing hands and Transjamaican Highway ended unchanged at 1 US cent in an exchange of 300,000 shares.
In the preference segment, JMMB Group 5.75% climbed 29.3 cents to close at US$2.323 with the swapping of one share and JMMB Group 6% remained at US$1.10 trading just one share.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
$1 for Dolla IPO
The latest IPO for a Junior Market listing is now out, with Dolla Financial Services, a company that is involved in the business of short term lending, with is set to sell 500 million Ordinary Shares at $1 each to the public, with the offer including 250 million newly issued Ordinary shares and the sale of 250 million existing Ordinary Shares by the Selling shareholders.
The 2021 financial statements show a total income of $395 million and a profit of $168 million before tax. Currently, the number of issued shares is 2.25 billion units, with earnings per share of 7 cents per share. Results for March 2022 show revenues of $141 million compared to $64 million in 2021, with a profit of $66 million, up from $17 million in 2021. for the full year earnings should hit the $300 million mark with earnings per share of 20 cents per share with a PE ratio of 5, compared to 13 for the overall Junior Market.
The Company intends to use the anticipated proceeds of the invitation of $250 million to expand its loan portfolio regionally through acquisitions and organic growth and strengthen its capital base. It currently operates eight branches in Jamaica and one in Guyana and has an equity base of $373 million, the issue if successful will take equity to just over $600 million.
The issue opens on May 27, 2022. Victoria Mutual Wealth Management, the receiving agent for the purposes of the Invitation.
SSLVC values
An article published in the Financial Gleaner of Friday, May 20 indicates that John Jackson, a director and minority shareholder in SSL Venture Capital Jamaica Limited, SSLVC, has objected to the bid price for the shares by MFS Acquisition, claiming it vastly undervalues SSLVC.
That is not a correct statement and at no time have I said the offer undervalues SSLVC. The only official statement of the position of the Board of Directors of SSLVC is contained in the published Directors’ Circular.
Bridgeton Management Services of which I am a majority shareholder, in its private position, indicated its plan to not accept the offer on the grounds that as a small investor the company would opt to sell the shares it owns into the market at some time in the future. A letter to that effect is included as a disclosure in the SSLVC Directors’ Circular.
Junior Market prices mostly fall Friday
Trading closed on the Jamaica Stock Exchange Junior Market on Friday, with the volume of stocks traded declining 68 percent with a 60 percent lower value than Thursday as 43 securities traded down from 44 on Thursday and ended with ten rising, 22 declining and 11 closing unchanged.
At the close, the Junior Market Index shed 3.71 points to 4,357.81.
The PE Ratio, a measure used in computing appropriate stock values, averages 13.5. The PE ratios of Junior Market stocks incorporate ICInsider.com projected earnings for companies with financial years closing up to the end of August 2023.
A total of 5,807,347 shares were traded for $25,315,609, dropping from 18,169,661 units at $63,184,225 on the Thursday. Trading averaged 135,055 shares at $588,735 in contrast to 412,947 shares at $1,436,005 on Thursday with month to date, averaging 422,694 units at $1,829,436 compared to 442,970 units at $1,916,895 on the previous trading day. April closed with an average of 449,923 units at $1,781,786.
Jetcon Corporation led trading with 1.04 million shares for 17.9 percent of total volume, followed by AMG Packaging with 469,900 units for 8.1 percent of the day’s trade and Lumber Depot with 422,811 units for 7.3 percent market share.
The Investor’s Choice bid-offer indicator shows no stock ending with a higher bid than the last selling price and two with lower offers.
At the close, AMG Packaging lost 10 cents in closing at $3.50 after trading 469,900 shares, Blue Power declined 18 cents to $3.75 in exchanging 35,689 stock units, Cargo Handlers shed 16 cents to close at $11.70 after an exchange of 977 units. Caribbean Assurance Brokers fell 17 cents to end at $2.25, with 155,000 stocks crossing the market, Derrimon Trading dropped 13 cents in ending at $3.02 with 114,968 shares clearing the market, Dolphin Cove declined $1.51 to close at $18.60 in an exchange of 68,237 stocks. Elite Diagnostic gained 14 cents to $3.94 in switching ownership of 126,699 stock units, Everything Fresh lost 26 cents to end at $1.34 after 12,327 units crossed the market, Express Catering dropped 10 cents in closing at $5.80 after exchanging 36,365 stocks. 
Fontana fell 30 cents to $10, with 344,612 stock units changing hands, GWest Corporation shed 14 cents to $1.01 while trading 15,098 shares, KLE Group declined 10 cents in closing at $2.30 with an exchange of 2,658 units. Stationery and Office Supplies shed 85 cents ending at $12.15 after finishing trading 10,044 stocks, Tropical Battery popped 10 cents to end at $2.85 after 154,743 shares crossed the exchange and tTech lost 10 cents to close at $3.60 trading 3,000 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Slippage for all JSE markets
Declines continued into the weekend for all Jamaica Stock Exchange markets, with mild losses and encompassed in a mere 695.48 points fall in the JSE Combined Index to 405,598.96.
The All Jamaican Composite Index dipped 1,581.75 points to 449,770.77, the JSE Main Index shed 707.68 points to close at 391,898.55, the Junior Market slipped just 3.71 points to 4,357.81 and the JSE USD market index dropped 1.05 points to 209.96.
Investors exchanged 12,963,225 shares in all markets, with the value of stocks traded in the Main and Junior Markets amounting to a mere $90.2 million and in the JSE USD market, US$51,094.
The market’s PE ratio ended at 25.5 based on 2021-22 earnings and 13.6 times those for 2022-23 at the close of the Jamaica Stock Exchange.
Investors need a series of measures and pertinent information to successfully navigate the many investment choices in the local stock market. The ICInsider.com PE ratio chart and the more detailed daily report charts provide investors with regularly updated information to help with decision-making.
Investors should use the chart to help make rational investment decisions by investing in stocks that are close to the average for the sector and not going too far from it unless there are compelling reasons to do so. This approach helps to take emotions out of the investment decision and put in on fundamentals while at the same time not being too far from the majority of investors. Investors who buy when the price of a stock is close to the average will find that they are not inclined to overpay for a stock.
The ICInsider.com PE Ratio chart covers all ordinary shares listed on the Jamaica Stock Exchange. It shows companies grouped on an industry basis, allowing easy comparisons between the same sector companies and the overall market.
The net asset value of each company is reported as a guide to assess the value of stocks based on this measure quickly. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices. Dividends payable and yields for each company are shown in the Main and Junior Markets’ daily report charts that show the closing volume for the bids and offers.
The EPS & PE ratios are based on 2021 and 2022 actual or projected earnings, excluding major one off items. The PE Ratio is the most popular measure used to determine the value of stocks.
JSE USD market in 6% dive
Some 208 percent more funds entered the Jamaica Stock Exchange US dollar market on Thursday over Wednesday and led to the volume of stocks traded rising 77 percent from that on the previous day, resulting in 11 securities changing hands, compared to eight on Wednesday with four rising, three declining and four ending unchanged.
The JSE US Denominated Equities Index dropped 11.85 points, or 5.6 percent, to 211.01.
The PE Ratio, a measure used in computing appropriate stock values, averages 9.2. The PE ratio uses ICInsider.com earnings forecasts for companies with financial years ending up to August 2023.
A total of 257,178 shares traded for US$48,070, up from 145,513 units at US$15,594 on Wednesday. Trading averaged 23,380 units at US$4,370, compared to 18,189 shares at US$1,949 on Wednesday, with a month to date average of 42,005 shares at US$2,806 versus 43,699 units at US$2,664 on the previous day. April ended with an average of 95,379 units for US$3,929.
Investor’s Choice bid-offer indicator shows none ended with a bid higher than the last selling price and two with lower offers.
At the close, First Rock Capital USD share shed 0.04 of a cent to end at 7.9 US cents in trading 42 shares, Margaritaville ended unchanged at 15 US cents, with 12 stocks clearing the market, Productive Business Solutions declined 20 cents to 98 US cents in exchanging 1,002 units. Proven Investments advanced 0.05 of one cent in closing at 26.5 US cents with 148,102 stock units changing hands, 
Sterling Investments climbed 0.16 of a cent to close at 2.16 US cents an exchange of 2,165 stock units, Sygnus Credit Investments USD share increased 0.59 of a cent to 12.99 US cents after exchanging 43 shares. Sygnus Real Estate Finance USD share finished at 12.5 US cents after trading 2,293 units and Transjamaican Highway fell 0.02 of a cent to 1 US cent after 100,000 stocks changed hands.
In the preference segment, Equityline Mortgage Investment preference share remained at US$1.70 in an exchange of 117 stocks, JMMB Group 5.75% popped 2 cents to US$2.03, with 3,400 shares crossing the market and JMMB Group 6% finished at US$1.10 with two units crossing the exchange.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Bounce for JSE main market
Market activity ended on the Jamaica Stock Exchange Main Market on Thursday, with the volume of stocks traded declining 19 percent and the value diving 63 percent lower than on Wednesday, leading to declining stocks outstripping rising ones.
The All Jamaican Composite Index rose 1,595.11 points to 451,352.52, the JSE Main Index popped 1,037.82 points to 392,606.23 and the JSE Financial Index inched 0.72 points higher to 94.15.
Trading ended with 51 securities compared to 53 on Wednesday, with 20 rising, 25 declining and six ending unchanged.
The PE Ratio, a formula for computing appropriate stock values, averages 14.9. The JSE Main and USD Market PE ratios are computed based on ICInsider.com’s forecasted earnings for companies with financial years ending up to the close of August 2023.
Overall, 9,880,109 shares were traded for $124,533,581 versus 12,251,051 units at $339,534,037 on Wednesday. Trading averages 193,728 units at $2,441,835, compared to 231,152 shares at $6,406,303 on Wednesday and month to date, an average of 238,407 units at $4,386,460, compared to 241,537 units at $4,522,691 on the previous trading day. April closed with an average of 532,209 units at $5,709,319.
QWI Investments led trading with 1.65 million shares for 16.7 percent of total volume, followed by Wigton Windfarm, with 993,729 units for 10.1 percent of the day’s trade and Sagicor Select Financial Fund with 957,413 units for 9.7 percent market share.
Investor’s Choice bid-offer indicator shows nine stocks ended with bids higher than their last selling prices and five with lower offers.
At the close, Barita Investments advanced 70 cents in ending at $90, trading 305,102 shares, Caribbean Cement popped $1.50 in closing at $63 while exchanging 29,073 stock units, Eppley Caribbean Property Fund declined $7 to $43 after 648 stocks changed hands. GraceKennedy climbed $3.27 to end at $110.80 after 165,524 units were exchanged, Guardian Holdings rallied $9 to $524 in an exchange of one stock unit, JMMB Group lost 53 cents in closing at $45.50, with 205,307 shares crossing the market. Kingston Wharves shed 79 cents to end at $38.20 after finishing trading 1,140 stocks, Massy Holdings dropped $2.50 to close at $90 after exchanging 110,208 units, MPC Caribbean Clean Energy gained $13.99 to $109 with the swapping of 66 stocks. PanJam Investment rose 50 cents to $62.50 after exchanging 42,524 stock units, Proven Investments gained 50 cents in ending at $38.50, with 114,273 units crossing the market, Sagicor Group fell 50 cents to $54.50 while trading 8,291 shares. 
Salada Foods gained 44 cents in closing at $6 with an exchange of 70 shares, Scotia Group increased $1.69 to end at $36.94 in switching ownership of 116,990 stock units, Seprod declined 48 cents to $71.50 in exchanging 7,509 stocks. Stanley Motta rallied 46 cents to end at $5.50, with 22,900 units crossing the exchange, Supreme Ventures dropped $1 to $29, with 129,116 units changing hands, Sygnus Credit Investments lost 37 cents to close at $16.52 while exchanging 20,767 stocks and Wisynco Group shed $2.50 in ending at $20 and trading 374,190 stock units.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
Mild rebound for Junior Market
Trading picked up on the Jamaica Stock Exchange Junior Market on Thursday and leading to a rise in the Market index and breaking five consecutive days of decline, with the volume of stocks traded rising 183 percent and the value 119 percent more than on Wednesday and leaving declining stocks just ahead of those increasing, at the close.
Like Wednesday, all but one of the 45 listed securities traded on Thursday, with 15 rising, 17 declining and 12 closing unchanged. The Junior Market Index gained 25.36 points to 4,361.52.
The PE Ratio, a measure often used in computing appropriate stock values, averages 13.6. The PE ratios of Junior Market stocks incorporate ICInsider.com projected earnings for companies with financial years closing up to the end of August 2023.
A total of 18,169,661 shares traded for $63,184,225 compared to 6,419,876 units at $28,806,239 on the Wednesday. Trading averaged 412,947 shares at $1,436,005 up from 145,906 shares at $654,687 on Wednesday, with month to date, averaging 442,970 units at $1,916,895 compared to 445,304 units at $1,954,279 on the previous trading day. April closed with an average of 449,923 units at $1,781,786.
Derrimon Trading led market activity, with 11.56 million shares for 63.6 percent of total volume, followed by Lumber Depot with 1.91 million units for 10.5 percent of the day’s trade and Tropical Battery with 937,196 units for 5.2 percent market share.
The Investor’s Choice bid-offer indicator shows three stocks ended with bids higher than their last selling prices and five with lower offers.
At the close, CAC 2000 fell $1.21 in closing at $6.25, with 1,917 shares crossing the market, Caribbean Cream gained 24 cents to close at $5.17 while exchanging 82 stock units, Dolphin Cove climbed 61 cents to end at $20.11 after 19,815 units changed hands. Everything Fresh increased 10 cents to $1.60 after exchanging 8,702 stocks, Express Catering shed 10 cents in ending at $5.90 after trading 24,213 shares, Fontana declined 20 cents to $10.30, with 33,181 units crossing the market. Fosrich lost 30 cents to end at $28 in trading 140,251 stock units, General Accident dropped 10 cents in ending at $5.90, with 13,319 stocks crossing the exchange, Jetcon Corporation advanced 10 cents in closing at $1.55 after trading 29,805 stock units. 
Lumber Depot rallied 22 cents to close at $3.50 in switching ownership of 1,911,005 shares, Mailpac Group rose 20 cents to $2.95, with 166,653 stocks clearing the market, Medical Disposables dropped 43 cents in closing at $7.96 with an exchange of 64,569 units and Tropical Battery popped 14 cents to end at $2.75 with the swapping of 937,196 shares.
Prices of securities trading are those for the last transaction of each stock unless otherwise stated.
